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by CareyBot

Real estate remodeling activity slowed in the second quarter of 2006, as the current market conditions index decreased from 48.1 to 45.6 and future expectations fell from 48.9 to 43.5, according to the National Association of Home Builders' Remodeling Market Index (RMI). The RMI measures remodeler perceptions of market demand for current and future residential remodeling projects. Any number over 50 indicates that the majority of remodelers view market conditions as improving. "We expected lower sentiment as the overall housing market slows, and the second-quarter numbers certainly reflect that," said Remodelors Council Chairman Vince Butler. "However, the remodeling market should perform relatively well as the overall housing market slows." The RMI component for owner-occupied units dr...